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POSCO Daewoo Seals 50B Won Transformer Deal with National Grid of UK

POSCO Daewoo

                                                   Transformers to be supplied to National Grid of the UK.

POSCO Daewoo announced on May 3 that the company signed a contract to supply a total of 50 billion won (US$45 million) worth of transformers through an international competitive bidding placed by National Grid, a government-run power corporation of the UK in April.

Through this agreement, POSCO Daewoo will supply 14 400kV ultra-high voltage transformers and nine 275kV super-high voltage transformers produced by Hyundai Electric & Energy Systems to substations in the UK operated by National Grid for the next three years from 2018 to 2020.

POSCO Daewoo has supplied 25 transformers to National Grid for six years since the first contract amounting to 130 billion won (US$117 million) with National Grid in 2011. They are planning to ship an additional nine units in the future. Some analysis says that POSCO Daewoo’s experience in trading with National Grid and National Grid’s accumulated trust of POSCO Daewoo through past contracts have greatly contributed to National Grid’s selection of the final contractor.

“We were once again recognized as a major transformer supplier for the UK National Grid through this additional contract,” said an official of POSCO Daewoo. “We will continue to make efforts to supply additional technology-intensive products such as gas insulated switchgears.”

The Original Posted by Jung Min-hee/Business Korea

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